1. Briefly explain three types of accounting principles that affect merchandise inventories. 2. What does the disclosure principle require? 3. Discuss the materiality concept. Is the dollar amount...


1. Briefly explain three types of accounting principles that affect merchandise inventories.


2. What does the disclosure principle require?


3. Discuss the materiality concept. Is the dollar amount that is material the same for a company that has annual sales of $10,000 compared with a company that has annual sales of $1,000,000?



May 04, 2022
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